Abstract: This study examined whether student values at honor code schools changed from freshman to senior year and also if the values reported by students at honor code schools were significantly different from previously collected value data. Student values at two honor code schools were measured using the Values Arrangement The instrument asked students to rank various values in a set of 42 forced choice questions. Twenty-one of the questions pertained to operational values, which are values associated with day-today operations. The other 21 focused on life values, which are values related to achieving more long-term goals and ways one aspires to be. The values were compared from freshman to senior year to see if any significant differences existed both for operational and life values. No significant differences were found for life values. For operational values, there were significant differences in the importance of drive and competency. Seniors ranked competency higher than freshmen and freshmen ranked drive higher than seniors.